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175	175	[[image:bharat forge2.png]]
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178		-(% class="wikigeneratedid" id="HDefenceandAerospaceBusiness" %)
179		-Defence and Aerospace Business
	178	+== Defence and Aerospace Business ==
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181	181	The Company continues on its growth trajectory in the Defence segment by diversifying into additional business opportunities, while maintaining Artillery systems and Protected Vehicles as its mainstay. It has made significant value additions, despite cycles of extreme volatility observed in the Indian Defence market. The Company has leaped forward to capitalize on the growing potential and contribute to ‘Make in India’.
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191	191	During the recently concluded Defexpo 2020 in Lucknow, Uttar Pradesh, the Company showcased its indigenously built technological capabilities and strengths across diverse spectrums of defence manufacturing, including Artillery, Protected Vehicles, Composites, and Augmented Reality. The signing of Memorandums of Understanding (MoUs) with established global defence firms like Paramount, General Atomics and an unprecedented number of business visitors to the Bharat Forge pavilion clearly indicate its growing prominence in both the Indian and global defence markets.
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193		-
194	194	= Financial Highlights =
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196	196	In the financial year 2019-20, the revenue of the Company declined by 30.2% and Profit after Tax decreased by 55.8%, as compared to the last financial year 2018-19 on a standalone basis. Domestic revenue decreased by 32.2% to Rs 17,818 Million as compared to last year of Rs 26,268 Million. Whereas export revenue reduced by 28.9% to Rs 26,502 Million as compared to last year of Rs 37,258 Million. On a consolidated basis, the Company, its subsidiaries and joint venture companies, achieved revenue of Rs 80,558 Million as against Rs 101,457 Million, a decline of 20.6%.
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262	262	The fining decisions are not yet final and can be appealed to the Düsseldorf Higher Regional Court.
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265		-= References      =
	263	+= References      =
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267	267	{{putFootnotes/}}